PR Newswire
Backed by Westbridge Capital and supported by the Graebel family's continued investment, the combination creates the foundation for a more connected workforce ecosystem that reduces complexity and improves experiences across work and life
Graebel Companies, Inc., a global leader in workforce mobility and managed services ("Graebel"), and Reside Worldwide Inc., a leading provider of short and extended stay accommodations ("Reside"), today announced they have combined under common ownership to create a more connected approach to workforce enablement.
Together, the companies are creating the foundation for a new model that helps organizations simplify complexity, improve employee experiences and support talent more effectively. This is enabled by ongoing support of the combined businesses from Westbridge Capital Ltd., one of Canada's leading private equity firms ("Westbridge"), coupled with the Graebel family's continued investment.
As employee journeys become more dynamic and complex, organizations are evolving how they support their people, but the systems, providers and technologies supporting those experiences remain fragmented. Together, Graebel and Reside bring complementary strengths that will change the way moves are managed for companies and their employees, better reflecting today's workforce and workplace.
"Where people live has such an impact on their work experience and success, whether it's for a longer-term relocation or temporary deployment for a short-term project," said Ron Dunlap, who will serve as CEO of the combined companies. "Bringing Graebel and Reside together allows us to play a more meaningful role in the employee journey while extending the value we create for clients. It's an important step toward simplifying complexity, reducing friction and helping organizations better support their people."
Clients can expect a sustained commitment to service excellence, relationship continuity and delivery against existing commitments, including the teams and contacts they work with today. Over time, they will also benefit from a more connected ecosystem that reduces fragmentation, strengthens coordination across the employee journey, and delivers long-term value while preserving supplier neutrality, choice and flexibility.
"Bringing Reside's 3Sixty corporate housing marketplace platform together with Graebel's technology and service platform will simplify a critical part of the employee journey, helping people settle in and succeed more quickly," said Lee Curtis, co-founder of Reside. "This brings us closer to delivering the seamless, end-to-end experience employees increasingly expect."
Westbridge will support continued innovation and help expand the value proposition beyond traditional relocation, helping organizations better support people wherever work happens. Together, Reside and Graebel are creating a foundation for the next phase of growth and a more integrated approach to supporting organizations and their employees.
"Graebel has a unique vision for the future of managed moves and is leading the industry into a place of more connected support for companies and people, beyond traditional mobility," said Mike Meekins, Westbridge's President and CEO. "We're looking forward to enabling that vision and to supporting this combination as the first step on that path, with additional opportunities on the horizon to reduce friction and improve experiences across the employee journey."
"Transformation is in Graebel's DNA and we've always sought change that will benefit our clients, their employees and the industry," said Bill Graebel. "Our family is supportive of this continued evolution of the company and we're looking forward to working with Graebel leadership, Reside and Westbridge to realize this vision."
Graebel and Reside will both continue as operating entities. Ron Dunlap will serve as CEO of the combined companies, with Lee Curtis joining the leadership team. The integration process is already underway, with an emphasis on continuity and a continued commitment to client and employee experiences.
Oppenheimer & Co. Inc. acted as exclusive financial advisor and sole arranger of financing to Westbridge and Reside in connection with the transaction, while K&L Gates LLP acted as legal counsel. Baird acted as exclusive financial advisor to Graebel, while Faegre Drinker Biddle & Reath LLP acted as legal counsel.
About Graebel
Graebel is a global workforce mobility and managed services provider, helping the world's leading organizations create certainty in an increasingly complex world. Combining strategic advisory, intelligent technology and deep human expertise, Graebel transforms workforce complexity into confident decisions—enabling organizations to move talent with greater visibility, agility and control.
Founded in 1950, Graebel supports organizations across 190 countries through decades of mobility expertise, strong governance and a carefully curated global partner network. By connecting workforce strategy, mobility and technology into one integrated experience, Graebel helps organizations unlock opportunity for their business and the people behind it. To learn more, visit www.graebel.com.
About Reside
Headquartered in Seattle, WA, Reside is a global leader in alternative accommodations and workforce housing solutions, helping people feel at home no matter where they are. Through its portfolio of hospitality brands and proprietary 3Sixty technology platform, Reside delivers flexible, high-quality accommodations and seamless support for business travelers, relocating employees and extended-stay guests around the world. Reside provides access to more than 3.4 million professionally vetted and globally compliant accommodations across more than 60 countries, connecting clients with the right housing solutions to meet the evolving needs of today's workforce. Combining innovative technology, hospitality expertise and a global supply network, Reside simplifies the accommodations experience while delivering greater choice, visibility and confidence. In 2023, Reside announced a long-term strategic relationship with Wyndham Hotels & Resorts to affiliate properties under the Reside, a Wyndham Residence brand. To learn more, visit www.staywithreside.com.
About Westbridge
Westbridge is a Canadian private equity firm. Westbridge focuses on private equity investments that by their nature have little correlation to publicly listed securities and may be used to diversify a portfolio and reduce overall portfolio risk and volatility. The firm structures transactions to maintain and ensure long-term alignment of interests, and partners with management teams to provide stability, support growth, and enhance operations through its access to capital markets and network of experienced professionals. To learn more, visit www.westbridgecapital.ca.
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